dunmac

Sorry to resurrect this old topic, but I was just wondering how many people use this. I've had an account for the last few weeks, and so far so good.

I'm treating it as one of my savings accounts and cost averaging by converting a small amount per day into gold. The money I put into it would have just been sitting in an account. I did a test purchase with the card the other day and bought a new pair of hiking shoes that I needed, which cost me 0.9003 of a gram of gold. Based on my cost averaging I paid 67p less that I would have had I just paid on my debit card. Ok, I know it's not a massive saving, but it was a relatively small purchase.

I'm thinking this is a nice way to save and use the funds for the odd purchase that is necessary from time to time. I certainly won't spend on the card when gold is lower than my cost average but when it comes time to buy a replacement laptop or phone, and as long as the gold I have is worth more than what I put in, this may come in very handy. 

I don't see it as a replacement for owning physical gold, but as I have no intention of selling my physical gold until after I retire, I won't see any financial benefit of it until then. I'm seeing this as an interesting means of making some small financial gains from gold in the shorter term. 

Any others using this, and how have you been using it? It would be interesting to know.